Matador Resources Company (MTDR) to Distribute Quarterly Dividend of $0.44 on December 4th

by · The Markets Daily

Matador Resources Company (NYSE:MTDR – Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Tuesday, November 10th will be given a dividend of $0.4375 per share by the energy company on Friday, December 4th. This represents a $1.75 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 16.7% increase from Matador Resources’s previous quarterly dividend of $0.3750.

Matador Resources has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Matador Resources to earn $9.41 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 15.9%.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $56.70 on Friday. The stock’s fifty day moving average is $56.32 and its two-hundred day moving average is $55.11. The company has a market capitalization of $7.02 billion, a PE ratio of 9.73 and a beta of 0.98. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84.

Matador Resources (NYSE:MTDR – Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. As a group, analysts expect that Matador Resources will post 7.62 earnings per share for the current year.

Analyst Ratings Changes

MTDR has been the subject of a number of research analyst reports. Seaport Research Partners assumed coverage on shares of Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Truist Financial upped their target price on shares of Matador Resources from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Wells Fargo & Company reduced their target price on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Citigroup reduced their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.20.

Check Out Our Latest Stock Report on MTDR

About Matador Resources

(Get Free Report)

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.

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